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thank you, bob pisani. we'll cover apple in-depth later in the hour. >>> it is worth taking another look at citi. trading up almost 6.5% at $36.49. the banking giant slashing 11,000 jobs, taking up to $1 billion in charges. the chief financial officer is speaking right now and kayla tausche is listening in to that conference call. >> city's cfo is just ending his prepared remarks right now at the goldman sachs financial services conference but he mentioned those layoffs right out of the gate. addressing the morning's announcement which he said is straight to the heart of citi's mission which is getting back to the basics of individual banking. among those 11,000 job cuts though, more than half will take place in the consumer banking business abroad. the bank will exit regions like pakistan and paraguay that haven't been profitable. 1,900 jobs will come from its institutional client's group. they'll start to reassess coverage of certain sectors and geographies in that group. it will close offices underutiliz
thank you, bob pisani. we'll cover apple in-depth later in the hour. >>> it is worth taking another look at citi. trading up almost 6.5% at $36.49. the banking giant slashing 11,000 jobs, taking up to $1 billion in charges. the chief financial officer is speaking right now and kayla tausche is listening in to that conference call. >> city's cfo is just ending his prepared remarks right now at the goldman sachs financial services conference but he mentioned those layoffs right out...
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don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. >>> welcome back. we're talking with maya macguiness. let me get your take on this final question. number one, two-part question. do we need to cut medicare in terms of really getting our arms around the debt of this country? number two, if we don't get our arms around the debt and lower the debt and deficits of the u.s., what are the implications for our kids? what are the implications for the economy? give it to us straight. >> there's no question that the most important challenge for us to tackle here is controlling health care costs. medicare is at the center of it when it comes to the budget. we're going to have to do as much as possible to get
don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. >>> welcome back. we're talking with maya macguiness. let me get...
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plus, we have bob from jones day who specializes in wall street deal making. jeff, it is ammo on wall street to do things behind closed doors. you don't want word to get out on the negotiations. it gets too messy. >> right. i wouldn't advocate for a lot of people to do what wall street does. one thing you can say is they've helped facilitate thousands of mna deals this year. they've figured something out with these transactions. the deals that are most successful have the better chance of success are the ones that you negotiate behind closed doors, not the ones that turn into hostile battles and spill out into public, which is what we're seeing noup. >> i understand that, but at the same time, what wh are we going to have a deal already? people are so frustrated by this. we've had 13 months to think about. now we're down to 26 days. bob, can you really make a deal on the fiscal cliff when the negotiation is out in public? do you think we'll get a deal done? that's what everybody wants to know. >> if everybody thinks we ought to get to a deal, we'll get to a de
plus, we have bob from jones day who specializes in wall street deal making. jeff, it is ammo on wall street to do things behind closed doors. you don't want word to get out on the negotiations. it gets too messy. >> right. i wouldn't advocate for a lot of people to do what wall street does. one thing you can say is they've helped facilitate thousands of mna deals this year. they've figured something out with these transactions. the deals that are most successful have the better chance of...
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bob in florida, bob? >> caller: hey, big boo-yah to you, cramer. >> right back at ya. >> caller: first thing i want to do is thank you quick for all you do to demystify the market for people. >> that's my goal. thank you. >> caller: i'm guessing i'm not the only senior citizen living on social security that depends on a portfolio of dividend stocks as a supplement. i'd like to get your take on the future of the income stream that took me so long to create. with one stock in particular, windstream. >> i'm worried about windstream. and i read a lot of the analyst reports and they say, listen, you should be worried. when i have everyone telling me to be worried, i'm not someone who whistles past the graveyard. i say ain't worth it. >> sell, sell, sell. >> john in new york, please, john? >> caller: hey, how you doing, jim? i was wondering how you feel about nokia since they signed on to china mobile. >> everyone's all of a sudden excited about nokia. it's on a run. i understand a $3 stock you go to $4, in the
bob in florida, bob? >> caller: hey, big boo-yah to you, cramer. >> right back at ya. >> caller: first thing i want to do is thank you quick for all you do to demystify the market for people. >> that's my goal. thank you. >> caller: i'm guessing i'm not the only senior citizen living on social security that depends on a portfolio of dividend stocks as a supplement. i'd like to get your take on the future of the income stream that took me so long to create. with one...
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. >>> let's check in with bob on that note. hey, bob. >> china. finally something from the leadership. we have been waiting for weeks, months, remember, everyone has been waiting for them to try to find where their desks are and find out where they can live and where they can stay and sit down and get used to the furniture and look around and say what are we going to do with the economy. we've been waiting no comment. we got comment from the party chief who made a speech in beijing and talked about what was going on. he used words like expanding domestic demand. used words like supporting urbanization. this is what everyone wanted to hear. those are buzz words. those are code words for stimulus. that's what the market is reacting to today. 2% move up in china in shanghai and even hong kong stocks. they moved together. this hasn't happened in a long, long time here. the bottom line is we're finally starting to hear from the leadership. they found their offices and things are starting to move and that is certainly very, very good news because now th
. >>> let's check in with bob on that note. hey, bob. >> china. finally something from the leadership. we have been waiting for weeks, months, remember, everyone has been waiting for them to try to find where their desks are and find out where they can live and where they can stay and sit down and get used to the furniture and look around and say what are we going to do with the economy. we've been waiting no comment. we got comment from the party chief who made a speech in...
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don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use. it's the ultimate combination of speed, small size, and low-cost printing. nespresso. where i never have to compromise on anything. ♪ where just one touch creates the perfect coffee. where every cappuccino and latte is only made with fresh milk. and where the staff is exceptionally friendly. ♪ nespresso. what else? >>> let's get final thoughts from our guest host. greg fleming. and we've heard, greg, i
don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. or that printing in color had to cost a fortune. nobody said an all-in-one...